Home prices rise in December quarter, Lucknow see biggest hike: RBI

MUMBAI: Housing prices in the country rose during the October-December quarter of the 2015-16 fiscal, the Reserve Bank data showed on Thursday.

The prices witnessed the highest increase in Lucknow while a decline was noticed in Jaipur during the December quarter of 2015-16 year-on-year.

Housing Price Index (HPI)-All India (base 2010-11=100) increased to 221.7 in third quarter of the last fiscal from 218.2 in the previous three-month period.

“On an annual basis, in Q3:2015-16, Lucknow witnessed the highest increase of 16.1 per cent while HPI declined in Jaipur (Y-o-Y change of -5.2 per cent),” said the quarterly HPI of the Reserve Bank.

Sequentially (third quarter of 2015-16 over second quarter of 2015-16), HPI of Kochi increased by 8 per cent while HPI for Bengaluru declined by 1 per cent.

“The annual increase of HPI-All India moderated since Q1:2015-16. During Q3:2015-16, the rate of increase fell below 10 per cent,” the RBI said.

The previous low was in Q3:2013-14 when the rate of increase was 10.1 per cent.

The RBI has released the data for all India and 10 major cities — Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi for the October-December quarter of 2015-16.

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